Manulife Financial Co. (TSE:MFC) Receives C$44.09 Consensus Target Price from Analysts

Shares of Manulife Financial Co. (TSE:MFC) (NYSE:MFC) have earned a consensus recommendation of “Moderate Buy” from the thirteen analysts that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, eight have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is C$44.09.

MFC has been the subject of a number of analyst reports. TD Securities raised their price target on shares of Manulife Financial from C$45.00 to C$48.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Jefferies Financial Group boosted their price target on Manulife Financial from C$42.00 to C$47.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. Scotiabank boosted their target price on shares of Manulife Financial from C$48.00 to C$49.00 in a research note on Friday, November 8th. National Bankshares lifted their price target on shares of Manulife Financial from C$45.00 to C$47.00 in a report on Thursday, November 7th. Finally, Cormark upped their price objective on shares of Manulife Financial from C$47.00 to C$48.00 in a research note on Thursday, November 21st.

Manulife Financial Stock Down 0.2 %

MFC opened at C$44.26 on Wednesday. Manulife Financial has a 1-year low of C$28.06 and a 1-year high of C$46.42. The business has a 50 day moving average of C$44.49 and a 200-day moving average of C$40.32. The stock has a market capitalization of C$78.34 billion, a price-to-earnings ratio of 18.83, a P/E/G ratio of 1.01 and a beta of 1.06. The company has a current ratio of 36.68, a quick ratio of 2.58 and a debt-to-equity ratio of 49.60.

Manulife Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, November 20th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 3.62%. The ex-dividend date was Wednesday, November 20th. Manulife Financial’s dividend payout ratio (DPR) is 68.09%.

Insider Buying and Selling

In other news, Senior Officer James D. Gallagher sold 57,064 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of C$44.80, for a total value of C$2,556,638.39. Also, Director Anthony Alex Silva sold 1,000 shares of the firm’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of C$45.22, for a total transaction of C$45,218.70. In the last quarter, insiders have sold 77,771 shares of company stock valued at $3,508,584. 0.03% of the stock is owned by company insiders.

About Manulife Financial

Manulife Financial Corporation, together with its subsidiaries, provides financial products and services in the United States, Canada, Asia, and internationally. The company operates through Wealth and Asset Management Businesses; Insurance and Annuity Products; and Corporate and Other segments. The Wealth and Asset Management Businesses segment offers investment advice and solutions to retirement, retail, and institutional clients through multiple distribution channels, including agents and brokers affiliated with the company, independent securities brokerage firms and financial advisors pension plan consultants, and banks.